New office space in Greater KL to be absorbed in seven years, says consultant

New office space in Greater Kuala Lumpur coming up over the next four years will take seven years to be absorbed, chairman of property consultancy Savills Malaysia Sdn Bhd Christopher Boyd told The Malaysian Insight today

The increase of 21 million sq ft will take seven years to be occupied at “an optimistic calculation of 2.7 million sq ft annually”, he said.

The absorption rate for new office space last year was better than in 2016 owing to projects such as Menara Public Bank 2, MYEG Headquarters in Empire City and Sunway GEO tower, Boyd revealed.